Robertson Stephens Weekly Commentary – July 15, 2024

You are excused if you are feeling like you have a bad case of adult-onset ADD.  It is hard to keep focused at the moment.  However, this is precisely when the “dismal science” of economics can earn its keep by reminding us that there is an economy that goes about its inexorable way, a million little and big steps at a time. An event-filled week and weekend is impacting markets across asset classes. Last week, the core consumer price index (CPI) — which excludes food and energy costs — climbed 0.1% from May, below expectations and its slowest pace since 2021. The report bolstered the bets that the Fed would cut interest rates as soon as September, sending interest rates lower across the curve and sparking a major rotational shift in equity markets. On the wealth planning front, we discuss wealth planning for young entrepreneurs.